Fed's Hammack, On Bloomberg, Says Inflation Will End Year Around 3%, Not Meeting Target; Does Not See Restricive Financial Conditions; It's Time For Fed To Act With Rate Hikes, Waiting Will Create Pain; Communicating Fed Issues To Public Is Part Of The Job; Markets Complement The Fed But Aren't Substitute For Fed; Fed Credibility Depends On Delivering On Dual Mandate; There Is Not Much Restriction In The Economy Right Now